CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net interest income:
Interest income	[1]	$ 195,591	$ 188,303	$ 581,700	$ 585,835
Interest expense	[2]	132,193	83,464	382,988	226,403
Net interest income		63,398	104,839	198,712	359,432
Increase/(decrease) in provision for credit losses		3,217	(1,534)	9,041	3,203
Other investment gains (losses):
Net unrealized gains (losses) on derivatives		17	10,307	9,460	8,689
Net realized gains (losses) on derivatives		0	0	(40,957)	0
Periodic interest cost of swaps, net		4,894	(122)	11,871	(122)
Net gains (losses) on derivatives		4,911	10,185	(19,626)	8,567
Net unrealized gains (losses) on financial instruments at fair value		(43,988)	(239,513)	27,558	(848,925)
Net realized gains (losses) on sales of investments		(460)	(37,031)	(27,482)	(37,031)
Gains (losses) on extinguishment of debt		0	0	6,348	(2,897)
Other investment gains (losses)		2,381	(462)	2,077	517
Total other gains (losses)		(37,156)	(266,821)	(11,125)	(879,769)
Other expenses:
Compensation and benefits		7,124	10,000	25,292	30,211
General and administrative expenses		5,427	4,836	17,674	16,493
Servicing and asset manager fees		8,139	8,516	24,965	27,122
Transaction expenses		90	2,341	14,955	12,872
Total other expenses		20,780	25,693	82,886	86,698
Income (loss) before income taxes		2,245	(186,141)	95,660	(610,238)
Income tax expense (benefit)		75	4	100	28
Net income (loss)		2,170	(186,145)	95,560	(610,266)
Dividends on preferred stock		18,438	18,438	55,313	55,283
Net income (loss) available to common shareholders			(204,583)	40,248	(665,549)
Net income (loss) available to common shareholders		$ (16,268)	$ (204,583)	$ 40,248	$ (665,549)
Net income (loss) per share available to common shareholders:
Basic (in dollars per share)		$ (0.07)	$ (0.88)	$ 0.17	$ (2.84)
Diluted (in dollars per share)		$ (0.07)	$ (0.88)	$ 0.17	$ (2.84)
Weighted average number of common shares outstanding:
Basic (in shares)		226,734,643	231,750,422	230,099,867	234,671,912
Diluted (in shares)		226,734,643	231,750,422	232,288,318	234,671,912

[1] Includes interest income of consolidated VIEs of $153,710 and $139,598 for the quarters ended September 30, 2023 and 2022, respectively, and $443,286 and $410,873 for the nine months ended September 30, 2023 and 2022, respectively. See accompanying notes to consolidated financial statements for further discussion.

[2] Includes interest expense of consolidated VIEs of $75,902 and $50,030 for the quarters ended September 30, 2023 and 2022, respectively, and $208,678 and $142,714 for the nine months ended September 30, 2023 and 2022, respectively. See accompanying notes to consolidated financial statements.